I'm only a novice at TA but it seems to me that everyone (retail folks like us) bought this stock above where it is now. The only others are the Asbestos Fund and the private equity guys who may own some shares lower. So my question is what constitutes "support" now? Tangible book value (whatever it is)?
I guess, when funds or pvt equity guys start buying that will be the clue. Wonder when that will be. You can stick a fork in the retail investors here IMO.
Yeah I wonder that too,,,,I also wonder if the TV ads for Gatorade are doing the same for the company,,,and the ones for Chrysler,,,,and the ones for Ford,,,,and the ones for Viagra,,,,,and the ones for Twinkies,,,,and the ones for Folgers,,,and the ones for K-Y Lube,,,and the ones for Budweiser....and so on and so on.
In my opinion, wait for the 50 day moving average crosses the stock price and buy anywhere between 50 day and 200 ma price. You may not get the lowest price but there is a better chance that buying at calm after the storm. It may not work all the time but safer approach.
I meant when the stock price above the 50sma. Anyway , you are CA and live in Cape Cod. You know all this stuff. I stayed at cape cod resort for a conference back in 1985 when I used to work in North Andover. You must be a succesful investor to be able to live in Cape cod.